Energy Consumption across the Whole World To Rise 56% by 2040 Led By Asia

According to EIA, ‘Because of the constant growth in developing countries such as India and China, energy consumption will be increased by 56% in the next three decades across the globe.’

By 2040, demands will soar up to 820 quadrillion British thermal units from existing 524 quadrillion and these two Asian countries have already been accounted for half the gain. Moreover, China which has noticeably used 3.4 % energy than the United States in 2010, is predicted to double US demand by 2040.

Source : Eia.gov

EIA administrator in the International Energy Outlook 2013 said, ‘‘upsurging properties in India and China is a major factor for huge energy demand worldwide. Similarly, this will have strong effects on the development of world energy markets.’’ Additionally, an array of opportunities in oil and gas industries is also predicated to be increasing than what is existing so far.

Consumption of petroleum and other fuels will also increase to 115 million barrels a day in 2040 from 87 millions in recent years. All the liquid fuels will be increased to 28% during those 2040.

Energy consumption of US will reach 107 quadrillion Btu and China will use almost the double- 220 quadrillion Btu by 2040. This is how US will be using 19 million barrels a day in 2040 and China will use 20 million barrels- double than what it’s consuming now.

The report by EIA as published in Bloomberg also made following predictions:

• Fossil fuels, containing natural gas, oil and coal will provide almost 80 % of world energy by 2040.
• Consumption of natural gas will increase up to 64 %, i.e 185 trillion cubic feet.
• Nuclear and renewable resources will soar up by 205 % a year.
• There will be 1.3% rise in coal consumption a year to 220 quadrillion Btu by 2040.
• Consequently, carbon dioxide emissions will be increasing to 46 % to 45 billion metric tons during 2040.